Australia's Ampol to buy EV charging operator Evie Networks for $156 million

By Reuters News

Oct 1 (Reuters) - Australian fuel retailer Ampol ALD.AX said on Thursday it had agreed to buy electric vehicle charging company Evie Networks for A$225 million ($156.26 million), bolstering its footprint in the fast-growing domestic public EV charging market.

Here are some more details:

  • The deal would give Ampol a combined network of about 1,425 charging bays across more than 400 sites.

  • The combined business is expected to achieve annualised earnings before interest, taxes, depreciation and amortisation of A$30 million, including synergies, within three years of completion.

  • Ampol's unit Ampol Energy has entered into a share sale agreement to acquire 100% of Fast Cities Australia, which operates as Evie Networks. Evie Networks owns 1,031 direct current charging bays across 322 sites in Australia.

  • The deal is expected to complete in the first half of 2027, pending approval from the Australian Competition and Consumer Commission (ACCC).

  • Shares of Ampol were down 2.4% at A$43.05, as of 0019 GMT, compared with a more than 1% decline in the broader energy sub-index .AXEJ.



($1 = 1.4399 Australian dollars)

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